Triveni Turbine arm to buy 70% stake in TSE Engineering

25 Mar 2022 CW Team

Triveni Turbine announced that its subsidiary Mis Triveni Turbines DMCC signed an agreement to acquire 70% equity of TSE Engineering in South Africa for approximately Rs 6.17 crore.

Registered under South African law, TSE has been working in high-precision engineering repairs and servicing machinery in sugar and other industrial plants in the South African Development Community region.

TSE would become a subsidiary of Triveni Turbine Ltd. The acquisition would be for 11.9 million South African rand and is likely to be finished by March 31, 2022.

Triveni Turbine Ltd is a leading industrial steam turbine producer. The company has been delivering reliable, efficient steam turbine systems for over five decades.

It is a significant manufacturer of industrial steam turbines in India, with a market share of more than 60%.

Triveni has installed over 5,000 steam turbines in over 70 countries, including Europe, Africa, Central and Latin America, Southeast Asia, and South Asian Association for Regional Cooperation (SAARC) countries.

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